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86106392
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86106392
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Last modified
10/18/2011 8:30:58 PM
Creation date
3/31/2008 3:27:13 PM
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DEEDS
Inst Number
86106392
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86. 1 ()&g9S. <br />It is agreed by and between the parties hereto that <br />while title is vested in the TRUSTEE and until filing of <br />Notice of Default, the TRUSTOR shall: <br />A. Retain possession of the premises at all <br />times, except as may be otherwise agreed by <br />the parties in writing. <br />B. Maintain the buildings and improvements and <br />all personal property sold under the parties' <br />Installment Sale Contract, in good condition <br />and repair. <br />C. Pay all general and special taxes and all <br />special assessments of every kind levied or <br />assessed against or due upon said property <br />before delinquency, and to deliver to BENE- <br />FICIARY copies of receipts showing payment of <br />such taxes. <br />D. Procure and maintain policies of all -risk <br />insurance on said improvements, in sums and <br />underwritten by companies acceptable to the <br />BENEFICIARY, in an amount of at least <br />Forty -Five Thousand Dollars ($45,000.00), <br />which policies shall name the BENEFICIARY as <br />an additional insured, with the loss proceeds <br />payable to the parties as their interests may <br />appear hereunder. TRUSTOR shall further carry <br />indemnity insurance against liability for such <br />injury or damages to persons and property in <br />at least the amount of Three Hundred Thousand <br />Dollars ($300,000.00) aggregate limits for <br />injury or death to person or persons and <br />Twenty Thousand Dollars ($20,000.00) for <br />property damage. TRUSTOR agrees to provide <br />BENEFICIARY with copies of such casualty <br />insurance policy or certificate of insurance <br />during the term of this indebtedness, which <br />policy of insurance may not be cancelled by <br />said carrier without fifteen (15) days written <br />notice to BENEFICIARY. <br />E. Pay to the BENEFICIARY, if BENEFICIARY so <br />requires, together with and in addition to the <br />regular monthly payments of principal and <br />interest, on the date set forth for the making <br />of the payment each month, a sum as estab- <br />lished by the BENEFICIARY equal to the taxes <br />and special assessments next due on the <br />premises, plus the premium that will next <br />become due and payable on insurance policies <br />covering the premises, divided by the number <br />of months to elapse before one month prior to <br />- 2 - <br />
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